Raymond James Financial, Inc. $RJF Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its position in Raymond James Financial, Inc. (NYSE:RJF) by 9.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,340 shares of the financial services provider’s stock after acquiring an additional 482 shares during the quarter. GAMMA Investing LLC’s holdings in Raymond James Financial were worth $819,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial in the 1st quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC grew its position in Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new position in Raymond James Financial in the 1st quarter valued at about $33,000. Finally, TCTC Holdings LLC grew its position in Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 121 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James Financial Stock Performance

Shares of RJF opened at $172.12 on Thursday. The stock has a 50 day moving average price of $166.85 and a 200 day moving average price of $152.27. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $34.32 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04. Raymond James Financial, Inc. has a 52-week low of $117.57 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the company earned $2.39 earnings per share. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is 19.61%.

Wall Street Analyst Weigh In

RJF has been the subject of several research reports. Citigroup reaffirmed a “neutral” rating and issued a $180.00 target price (up from $170.00) on shares of Raymond James Financial in a research report on Monday. JPMorgan Chase & Co. boosted their price objective on Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. JMP Securities boosted their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Monday, July 14th. Finally, Morgan Stanley boosted their price objective on Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Raymond James Financial presently has an average rating of “Hold” and a consensus target price of $165.30.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.